Accounting and Financial Statements Quiz
Authored by DR SITTI SYAMSIAR MUHARRAM
Business
University
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of financial statements?
To communicate financial information to interested users
To confuse investors
To hide the financial position of the company
To entertain external parties
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who uses financial statements to assess the viability of investing in a company?
Suppliers
Employees
Management
Investors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which form of business entity has its capital contributed by shareholders?
Company
Partnership
Sole Trader
None of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating the owner's equity in the balance sheet?
Liabilities - Assets
Assets = Liabilities + Owner's Equity
Assets - Liabilities
Assets + Liabilities
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial statement gives the operating results for a specific period?
Statement of Financial Position
Statement of Cashflows
Statement of Changes in Equity
Income Statement
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the income statement show?
Assets
Expenses
Liabilities
Revenues
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of the statement of cashflows?
To provide information about the financial position of the company
To communicate financial information to external parties
To show the company's worth at a specific date
To show the sources and uses of cash by the company
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